Which of the following is a microeconomics topic?
a. A price of a new home.
b. The inflation rate.
c. The economy's growth rate.
d. The unemployment rate.
e. Forecasts of a recession next year.
QUESTION 2Microeconomics deals with the analysis of all the following questions except how:
a. the wages of carpenters are determined.
b. high did unemployment rise during the Great Depression.
c. does Ford decide how to price its cars.
d. does a college student decide how to spend her income.
e. do monopolies and competitive markets differ.
QUESTION 3The sub-discipline of economics that focuses especially on individual markets is:
a. normative economics.
b. positive economics.
c. microeconomics.
d. macroeconomics.
e. econometrics.
QUESTION 4The study of microeconomics and macroeconomics differ in that:
a. microeconomics is concerned with the domestic economy and macroeconomics is concerned only with the international economy.
b. microeconomics examines the individual markets of the economy while macroeconomics studies the whole economy.
c. microeconomics studies the actions of households and macroeconomics studies the actions of business firms.
d. microeconomics examines the whole economy while macroeconomics studies the individual units of the economy.
QUESTION 5Which of the following would be of particular interest to a microeconomist?
a. The price of fruit the typical household consumes.
b. The nation's inflation rate.
c. The nation's rate of unemployment.
d. The budget of the national government.
e. The growth of the economy.
QUESTION 6Microeconomics is concerned with:
a. some specific market in the economic system.
b. the entire economic system.
c. reducing national unemployment and inflation rates.
d. what causes changes in the overall level of economic activity.
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